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What is the balance in the account

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Reference no: EM131200541

Suppose you invest $ 1,050 n an account paying 7%interest per year.

a. What is the balance in the account after 3years? How much of this balance corresponds to"interest on interest"?

b. What is the balance in the account after 27years? How much of this balance corresponds to"interest on interest"?

Reference no: EM131200541

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